Korea Investment CORP Trims Stock Position in HP Inc. $HPQ

Key Points

• Korea Investment CORP reduced its stake in HP Inc. by 12.5%, selling 73,710 shares and owning approximately 0.05% of the company valued at $14.3 million post-sale.
• HP's quarterly earnings of $0.71 per share fell short of the consensus estimate of $0.80, while the company reported a revenue increase of 3.3% year-over-year, totaling $13.22 billion.
• The firm declared a quarterly dividend of $0.2894, with a yield of 4.4%, to be paid on October 1st to shareholders on record by September 10th.

Korea Investment CORP cut its holdings in shares of HP Inc. (NYSE:HPQ - Free Report) by 12.5% in the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 516,855 shares of the computer maker's stock after selling 73,710 shares during the quarter. Korea Investment CORP owned about 0.05% of HP worth $14,312,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors have also recently added to or reduced their stakes in the company. Marshall & Sterling Wealth Advisors Inc. purchased a new stake in shares of HP in the 4th quarter valued at $36,000. Migdal Insurance & Financial Holdings Ltd. acquired a new stake in HP during the 1st quarter worth approximately $35,000. CoreCap Advisors LLC boosted its position in HP by 71.9% in the 4th quarter. CoreCap Advisors LLC now owns 1,403 shares of the computer maker's stock valued at $46,000 after buying an additional 587 shares during the period. Iron Horse Wealth Management LLC purchased a new position in HP in the 1st quarter valued at approximately $39,000. Finally, Financial Freedom LLC grew its stake in shares of HP by 141.4% in the first quarter. Financial Freedom LLC now owns 1,499 shares of the computer maker's stock worth $42,000 after acquiring an additional 878 shares in the last quarter. Institutional investors and hedge funds own 77.53% of the company's stock.

Wall Street Analysts Forecast Growth

Several brokerages have recently issued reports on HPQ. Zacks Research upgraded HP from a "strong sell" rating to a "hold" rating in a research note on Tuesday. Morgan Stanley cut their target price on HP from $29.00 to $26.00 and set an "equal weight" rating on the stock in a research report on Thursday, May 29th. Wall Street Zen upgraded HP from a "hold" rating to a "buy" rating in a research note on Monday, May 12th. Dbs Bank lowered shares of HP from a "moderate buy" rating to a "hold" rating in a research note on Wednesday, June 11th. Finally, Wells Fargo & Company dropped their target price on shares of HP from $35.00 to $25.00 and set an "underweight" rating on the stock in a research report on Thursday, May 29th. Two investment analysts have rated the stock with a Buy rating, thirteen have issued a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat.com, the stock presently has an average rating of "Hold" and a consensus price target of $29.54.

HP Stock Up 0.3%

HPQ opened at $26.55 on Friday. HP Inc. has a 52 week low of $21.21 and a 52 week high of $39.79. The business has a 50 day moving average price of $25.34 and a two-hundred day moving average price of $27.02. The company has a market cap of $24.94 billion, a PE ratio of 10.25, a P/E/G ratio of 2.14 and a beta of 1.29.

HP (NYSE:HPQ - Get Free Report) last posted its quarterly earnings results on Wednesday, May 28th. The computer maker reported $0.71 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.80 by ($0.09). HP had a negative return on equity of 244.99% and a net margin of 4.64%.The firm had revenue of $13.22 billion for the quarter, compared to analysts' expectations of $13.09 billion. During the same period in the prior year, the company earned $0.82 earnings per share. The company's revenue for the quarter was up 3.3% on a year-over-year basis. HP has set its FY 2025 guidance at 3.000-3.300 EPS. Q3 2025 guidance at 0.680-0.800 EPS. As a group, sell-side analysts expect that HP Inc. will post 3.56 EPS for the current fiscal year.

HP Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, October 1st. Shareholders of record on Wednesday, September 10th will be given a $0.2894 dividend. The ex-dividend date is Wednesday, September 10th. This represents a $1.16 annualized dividend and a yield of 4.4%. HP's dividend payout ratio is presently 44.79%.

HP Profile

HP Inc provides products, technologies, software, solutions, and services to individual consumers, small- and medium-sized businesses, and large enterprises, including customers in the government, health, and education sectors worldwide. It operates through Personal Systems and Printing segments. The Personal Systems segment offers commercial personal computers (PCs), consumer PCs, workstations, thin clients, commercial tablets and mobility devices, retail point-of-sale systems, displays and other related accessories, software, support, and services for the commercial and consumer markets.

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